Deutsche Bank Starts Angie's List (ANGI) at Hold, Rich Valuation
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Price: $4.72 -2.28%
Rating Summary:
12 Buy, 21 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
12 Buy, 21 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank initiates coverage on Angie's List (NASDAQ: ANGI) with a Hold. PT $12.00.
The firm comments, "ANGI is one of the most interesting stories in small cap internet, as its model is proven and defensible, it earns strong unit economics, but its rapid growth translates to large losses. There are few companies in our coverage universe that can increase their revenue by 10x-15x, and Angie's List is one of them. While we like the business model more than some of its local peers, its valuation vs. the sector is rich and almost not comparable given the heavy losses to date. We would get more aggressive with our recommendation if we could see more clearly the path and timing to FCF positive, and if we were assured that ANGI can get to FCF without raising more equity."
For an analyst ratings summary and ratings history on Angie's List click here. For more ratings news on Angie's List click here.
Shares of Angie's List closed at $12.02 yesterday.
The firm comments, "ANGI is one of the most interesting stories in small cap internet, as its model is proven and defensible, it earns strong unit economics, but its rapid growth translates to large losses. There are few companies in our coverage universe that can increase their revenue by 10x-15x, and Angie's List is one of them. While we like the business model more than some of its local peers, its valuation vs. the sector is rich and almost not comparable given the heavy losses to date. We would get more aggressive with our recommendation if we could see more clearly the path and timing to FCF positive, and if we were assured that ANGI can get to FCF without raising more equity."
For an analyst ratings summary and ratings history on Angie's List click here. For more ratings news on Angie's List click here.
Shares of Angie's List closed at $12.02 yesterday.
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